IDFC First Bank is tapping the overseas bond market for the second time, with a pricing fixed for the $350 million five-year senior notes issuance in less than a week after the maiden one.

The private lender has priced the notes at a 5.80% coupon, taking the total value of its international bonds priced in August to $950 million.

The notes, issued through the bank’s International Financial Services Centre (IFSC) Banking Unit, were priced on 24 August. The bonds will be allotted on 28 August and are structured as unsecured Regulation S private placement.

The notes will mature on 28 August 2031. Interest will be paid semi-annually on 28 February and 28 August, with the first payment due on 28 February 2027.

 The issue is proposed to be listed on the Vienna MTF and the Global Securities Market of India INX, and/or the Debt Securities Market of NSE IX.

The latest issue follows the bank’s $500 million three-year maiden international bond offering, which was priced on 18 August. The size of the issue was increased by $100 million to $600 million the following day, after strong investor demand.

The overseas bond issues come after S&G Global Ratings assigned IDFC First Bank an investment-grade long-term issuer credit rating of ‘BBB-’, with a stable’ outlook.